Interana, provider of business analytics to see and understand how customers behave and products are used, announced that it has raised a whopping $20 Million in Series B funding. The Menlo Park company is led by founding couple Ann Johnson, a former Intel product, and Bobby Johnson, who among other things led Facebook’s adoption of the Hadoop Big Data platform. By introducing a time-based element into working with Big Data, the Johnsons have developed a way to analyze “events-based data”. This helps to come across trends and patterns in the data and assist in presenting it in a visual way that can be easier to understand.
Index Ventures led the round, with participation from new investors AME Cloud Ventures and individuals Harris Barton (an angel investor and former San Francisco 49ers lineman) and Mike Olson (chief strategy officer at Cloudera). Existing investors also participated in the round, such as Battery Ventures, Data Collective and Fuel Capital. Menlo Park, Calif.-based Interana, which came out of stealth in October, has now raised $28.2 million in total funding. As part of the Series B, Mike Volpi, general partner at Index Ventures, has joined the Interana board.
Interana Secures $20 Million in Series B Funding Led by Index Ventures; Big Data Leader Mike Volpi Joins Board of Directors. Data Analytics Company Expands Reach with New Customers, Making Data a Part of Everyone’s Day
“This is a new form of analytics where streaming data and data at rest are analyzed together, enabling companies to reach the elusive goal of seeing how real-time snapshots fit into historical trends. Traditionally, enterprises have required separate analytic tools and data platforms to put those pieces together,” said Tony Baer, principal analyst at Ovum. “Interana’s event-based analytics solution allows companies to analyze click stream logs, feature usage, and place that in the historical perspective of how they have acted with the customer, which is a whole new way of looking at data.”
In the era of big data, businesses are looking for ways to derive useful insights to make better business decisions. This is where Interana comes in, and it’s one of the reasons we were so interested in investing in the company,” said Volpi. “Interana provides Big Data insights to large numbers of people within an organization by making insights quicker and easier to access than ever before. We are delighted to partner with Ann, Bobby, Lior and the rest of the team, and are excited to help them continue to expand and deliver on their vision.
IDC predicts visual data discovery tools will grow 2.5 times faster than the rest of the BI market; investing in this enabler of end-user self-service will become a requirement for all enterprises by 2018. Interana is well-suited to provide the data discovery tools enterprises will rely on, as the company offers a fundamentally different kind of analytics solution. Its unique technology stores billions of sequences of events (event data) from sources such as clickstreams, call detail records, transactions and sensor data, allowing users to ask questions and see answers in seconds. By directly interacting with data through a fast visual interface, users can perform ad-hoc queries to explore data and discover trends and patterns through features such as time series, distributions and funnels. Interana helps business decision makers and data teams identify new opportunities for growth, customer retention, product conversion and engagement in a fraction of the time it takes today.
It just took three months for Interana to build broad customer adoption across a wide range of industries; customers include companies such as Asana, Orange Silicon Valley and BloomBoard. With growing demand, the company has dozens of proof-of-concepts (POCs) underway with software-as-a-service (SaaS) and online companies.
Quotes source: www.pehub.com